There is a family of models with Physical, Human capital and R&D for which convergence properties have been discussed (Arnold, 2000a; Gómez, 2005). However, spillovers in R&D have been ignored in this context. We introduce spillovers in this model and derive its steady-state and stability properties. This new feature implies that the model is characterized by a system of four differential equat...

We investigate an OLG economy where an AIDS epidemic influences human capital accumulation and growth through the creation of large numbers of orphans. We study how intrafamily allocations regarding school and work time of children are adjusted in the face of AIDS within a family, and how, in turn, these adjustments influence accumulation of physical and human capital. We compute the aggregate ...

Michał Matuszewski, Wieslaw Królikowski, Marek Trippenbach, and Yuri S. Kivshar Institute for Theoretical Physics, Warsaw University, Hoża 69, PL-00-681 Warsaw, Poland Laser Physics Centre, Research School of Physical Sciences and Engineering, Australian National University, Canberra, Australian Capital Territory 0200, Australia Soltan Institute for Nuclear Studies, Hoża 69, PL-00-681 Warsaw, P...

Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital's share in factor income determines the difference in the predicted convergence rates for open and closed economies. With a 60 percent sh...

Article history: Accepted 26 September 2010 JEL classification: O31 O33 O41

In this paper the classical Solow model is extended, by considering spatial dependence of the physical capital and population dynamics, and by introducing a nonconcave production function. The physical capital and population evolution equations are governed by semilinear parabolic differential equations which describe their evolution over time and space. The convergence to a steady state accord...

This paper develops a two country endogenous growth model with accumulation of both physical and human capital. We establish the existence of two country balanced growth equilibria with physical and human capital growing at the same rate in which a static and dynamic version of the Heckscher-Ohlin hypothesis hold true. We also show the existence of unbalanced growth equilibria in which the stat...

Ecotourism is a viable alternative for the development of regions and countries with a strong natural resource base. Sustainable development involves the compatibility of the growth in the number of tourists and the preservation of ecologically valuable natural resources. This paper focuses on the relationships between environmental degradation and physical capital in the management of natural ...

Questions about capital formation and the implications of a potentially increasing scarcity of financial capital in the United States have recently emerged as important public issues, not just as a matter of long~range planning but as an object of concern in ~the medium run, too. There are reasons for expecting both the overall scarcity of investment capital and, perhaps more importantly, the r...